Insurance companies that hope to adopt more digital methods face the gargantuan task of transforming their existing processes into applications, which requires vast effort by IT teams as well as the possibility of having to hire additional experts for building code from spreadsheet data. Coherent supplies the insurance industry with a platform for automating the production of enterprise-grade code from spreadsheets, enabling business and IT teams to collaborate more effectively to bring products to market.
Normally, converting from spreadsheets to code would be a manual process, taking weeks or even months. The Coherent Spark platform converts even complex business logic – such as rules and formulas – from spreadsheets into code in a matter of minutes, producing ready-to-use APIs. This process massively speeds up innovation, and reduces both operating costs and risks. Additionally, by using existing spreadsheets, Coherent enables companies to make the most of the intelligence and expertise they already have, on top of reducing workload for IT teams.
Coherent has raised impressive funds to support its continued global expansion and movement into other adjacent industries such as asset management. The investment will also fuel growth in product, engineering and sales teams.
Steph
Company Specialist at Welcome to the Jungle